Roku (NASDAQ:ROKU) Shares Up 3.9% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) traded up 3.9% during mid-day trading on Monday . The stock traded as high as $96.36 and last traded at $95.18. 2,170,362 shares traded hands during trading, a decline of 42% from the average session volume of 3,725,985 shares. The stock had previously closed at $91.65.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Roku in a research report on Friday, February 13th. Stifel Nicolaus set a $160.00 target price on shares of Roku in a report on Monday, March 2nd. Wedbush raised their target price on shares of Roku from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Moffett Nathanson reiterated a “neutral” rating and set a $100.00 price target on shares of Roku in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.40.

Roku Price Performance

The stock has a market capitalization of $14.03 billion, a P/E ratio of 166.99 and a beta of 1.98. The stock’s 50-day simple moving average is $98.04 and its 200 day simple moving average is $99.76.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.25. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The company’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.24) earnings per share. As a group, analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Neil D. Hunt sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $96.48, for a total transaction of $192,960.00. Following the sale, the director owned 7,782 shares of the company’s stock, valued at $750,807.36. This trade represents a 20.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 198,124 shares of company stock worth $20,020,428 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several hedge funds have recently added to or reduced their stakes in ROKU. Apollon Wealth Management LLC increased its position in Roku by 1.5% during the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after buying an additional 96 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Roku by 9.5% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the company’s stock worth $112,000 after buying an additional 97 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Roku by 3.8% in the third quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company’s stock valued at $273,000 after acquiring an additional 100 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of Roku by 1.0% in the third quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock valued at $995,000 after acquiring an additional 100 shares during the period. Finally, Aviance Capital Partners LLC grew its stake in shares of Roku by 2.6% in the third quarter. Aviance Capital Partners LLC now owns 4,172 shares of the company’s stock valued at $418,000 after acquiring an additional 106 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.